India

Another Scam on the cards? Now Rotomac owner flees with over Rs 800 crore due

After 11000 crores scam in Punjab National Bank, another case of crores rupees scam has come out of the public sector banks. On the company of Rotomac Pen, there are allegations of running away from different government banks with a loan of more than Rs. 800 crores.

However, after coming to the headlines in the matter, Vikram Kothari, owner of Rotomac pens came in front of the media and said that he definitely took loan from the bank, but it is wrong to say that he will not repay a loan. He said that the case is under his bank’s NCLT. The outcome of the dispute will come out. On the question of running away from the country, he said, “I am the resident of Kanpur. I will stay in Kanpur. There is no better country than India.”

According to sources, the owner of Rotomac Company of Kanpur, Vikram Kothari had taken loan of more than Rs.800 crores from 5 government banks. It is being said that Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and Union Bank of India had given such a large loans to Vikram Kothari by bypassing the rules and regulations.

Vikram Kothari has taken a loan of Rs 485 crore from Union Bank of India. He had taken loan of Rs 352 crores from Allahabad Bank, but even after 1 year he has neither repayed the loan nor paid the interest on the principle. In the City Center of Kanpur the office of Rotomac Company has been sealed. Vikram Kothari is also missing. Allahabad Bank manager Rajesh Gupta has expressed hope of recovering the money back after selling the properties of Vikram Kothari.

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